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A restaurant wants to forecast its weekly sales. Historical data (in dollars) for 15 weeks are shown below. Time Period Observation 1 1,501 2 1,584

A restaurant wants to forecast its weekly sales. Historical data (in dollars) for 15 weeks are shown below.

Time Period Observation
1 1,501
2 1,584
3 1,397
4 1,285
5 1,228
6 1,360
7 1,608
8 1,345
9 1,371
10 1,537
11 1,419
12 1,583
13 1,694
14 1,572
15

1,302

What is the forecast for week 16, using a two-period moving average? Round your answer to the nearest cent.

$

What is the forecast for week 16, using a three-period moving average? Round your answer to the nearest cent.

$

Compute MSE for the two- and three-period moving average models and compare your results. Do not round intermediate calculations. Round your answers to two decimal places.

MSE (two-period): MSE (three-period):

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